Has someone ever said to you “you should really get your estate planning done” and you don’t really know what they mean? What is “estate planning” and why is it so important?

Where there is a will, there’s a way… to look after your loved ones.

Estate planning is an ‘umbrella’ like term used to describe the process of planning for death or disability.  It sounds challenging, we know, however having arrangements in place that are tailored to you is likely to be kindest and thoughtful thing you can do for those that love you.  Estate planning includes a comprehensive review of what legally happens when you pass away or if you lose capacity to make your own decisions.  In our review, we will check that what you learn from that review aligns with what you want and need for yourself and your loved ones.

For many, estate planning may simply include a Will and Enduring Power of Attorney carefully drafted to suit your personal and financial circumstances.  Your documents will appoint the person or people you trust to handle your affairs when you go or handle your life admin appropriately if you can’t do it yourself.  Your tailored estate planning documents will also contemplate and cover you in case something happens to your first appointed person.  After all, there’s many things you can plan for and many that you cannot.

For others, estate planning may involve looking at the family business structure (including companies, partnership and family trusts), making sure the right people take over control of the right entities when key people pass away.  It may also include ensuring the company has the right decision makers in place, if something happened to you, the owner.  It can mean the difference between the business staying open and a forced closure while the family deals with tragedy, all at once.  This estate planning process will include Wills and Powers of Attorney and also other documents to ensure everything knits together properly.

How we can help

Estate planning is all about putting the best plan in place to ensure you and your loved ones are protected.  No two estate plans are the same.  Estate planning includes things like:

  • preparing Wills, including standard Wills and testamentary discretionary trust Wills;
  • preparing General and Enduring Powers of Attorney;
  • preparing Advance Health Directives and giving directions about end-of-life care;
  • superannuation planning, including Binding Death Benefit Nominations;
  • reviewing family trust deeds about who takes over when you can’t manage anymore;
  • considering business succession plans.

There’s no time like the present to get your estate plan put in place for peace of mind. Call or email us, or even book online, for a confidential discussion about your estate planning needs today.